Russian miner Polymetal says secures $45 mln loan

Fri Aug 22, 2008 1:59am EDT
 
[-] Text [+]

MOSCOW, Aug 22 (Reuters) - Polymetal (PMTL.MM) (PMTLq.L), Russia's largest silver miner, has secured a $45 million loan from UniCredit Bank that will be used for general corporate purposes, the company said in a statement on Friday. Polymetal said the 12-month loan was at a rate of one-month LIBOR plus 3.25 percent per annum over the first six months of the agreement and 3.75 percent from the seventh month.

Polymetal was also Russia's third-largest gold miner last year, producing 4.6 percent of the country's total output. (Reporting by Robin Paxton; Editing by Paul Bolding)

 
Join the Reuters Consumer Insight Panel and help us get to know you better

Join the Reuters Consumer Insight Panel and help us get to know you better